WorldOil Special Focus: 2020 Forecast - U.S. Drilling U.S. on a downward trajectory as shale industry matures Pemex under pressure with AMLO ruling Mexico’s economy The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails. Bombed oil tanker near Persian Gulf now shipping fuel to Iran An oil tanker damaged in a bombing that was blamed on Iran is back in business. The ship’s first destination: Iran. EIA: Fossil fuels continue to dominate U.S. energy consumption Fossil fuels—petroleum, natural gas, and coal—have accounted for at least 80% of energy consumption in the United States for well over a century. Overall energy consumption in the United States reached a record high in 2018 at 101 quadrillion British thermal units (Btu), of which more than 81 quadrillion Btu were from fossil fuels. Shale fight makes OPEC accept lowest market share since 1991 For almost three decades, OPEC has always pumped at least 30% of the world’s crude oil, creating an informal floor for Saudi Arabia and its allies in the cartel. Why oil's outlook could be even bleaker than expected As storm clouds gather over the world’s top oil-consuming region, OPEC and its allies would be advised to pay close attention as they prepare to make a key decision on output curbs early next month. Putin to meet with Saudi Prince just days before OPEC+ gathers Russian President Vladimir Putin plans to meet Saudi Crown Prince Mohammed Bin Salman at the Group of 20 summit in Japan this week, just days before OPEC and its allies gather in Austria to discuss extending oil-output cuts. Oil drillers scale back U.S. activity as crude falls into bear market U.S. crude explorers reduced drilling to a 15-month low as oil dipped into bear-market territory. Gazprom, Shell meet to review progress of Nord Stream 2, Sakhalin II projects A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Ben van Beurden, CEO of Royal Dutch Shell, took place today at the St. Petersburg International Economic Forum 2019. Eni board of directors approves measures to begin buy-back program The Eni board of directors, in execution of the authorization granted by the Eni shareholders’ meeting of May 14, 2019 and within the terms announced to the market on that date, has approved measures to begin the 2019 share buy-back program.